Futures Movers: Dow futures up over 100 points on 2022’s first trading day, with Tesla surging after record sales


U.S. stock-index futures climbed on Monday, pointing to a positive start to the year as 2022’s first day of trading was getting under way. Among stocks on the move, shares of Tesla surged after record-breaking quarterly sales.

How are stock-index futures trading?

Stocks fell Friday on the last trading day of 2021, with the Dow DJIA, -0.16% dipping 59.78 points, or 0.2%, to close at 36,338.30, while the S&P 500 SPX, -0.26%  slipped 12.55 points, or 0.3%, to finish at 4,766.18, and the Nasdaq Composite COMP, -0.61% dropped 96.59 points, or 0.6%, to end at 15,644.97.

For 2021, the S&P 500 soared 26.9%, beating both the Nasdaq’s 21.4% rise and the Dow’s 18.7% climb.

Read: The S&P 500 beat both Dow, and Nasdaq in 2021 by the widest margin in 24 years. Here’s what history says happens in 2022.

What’s driving stock markets?

Wall Street will start the year with a number of concerns, including the surge in COVID-19 cases spurred by the rapid spread of the omicron coronavirus variant and the likelihood of multiple interest-rates hikes by the Federal Reserve, expected later this year.

“The omicron variant is spreading like wildfire but hospitalizations remain under control and most governments seem wary of going back to lockdowns, feeding optimism that this wave won’t inflict much damage on the global economy,” said Marios Hadjikyriacos, senior investment analyst at XM, in a note to clients.

Travel chaos was greeting the start of the year, with more than 2,600 U.S. flights canceled on Sunday, amid winter storms and shortages of workers due to the fast-spreading omicron variant. Federal offices were also shut in Washington, D.C., as winter weather bore down on the mid-Atlantic.

Helping drive positive sentiment on the first trading day of 2022, shares of Tesla TSLA, -1.27% climbed 6%, after the electric-car maker delivered more than 308,000 vehicles in the fourth quarter, blowing away analysts’ expectations. Deliveries surged about 87% in 2021.

Economic data on tap this week will include Friday’s employment report, and the minutes of the latest Federal Open Market Committee meeting due midweek.

How are other assets trading?

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